This Week In Credit Card News: Trump Proposes Short Term Cap On Credit Card Interest Rates [Forbes]
JP Morgan Chase & Co. (JPM)
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Source: Forbes
to the White House, put a “temporary cap on credit card interest rates … at around 10%,” if he were elected. Doing so would require Congress to pass legislation, a move lawmakers on both sides of the aisle have proposed in recent years. Consumer banks like JPMorgan Chase and Citigroup earn a tidy share of the roughly $120 billion in credit-card interest and fees Americans pay each year, and industry groups have fought past efforts to cap fees by arguing that it would make it difficult for Americans to get approved for credit cards. [ MarketWatch ] Donald Trump said he'd consider a temporary cap on credit card interest rates if elected Getty Images The Fed's Interest Rate Cut Reflects an Increasingly Troubled Economy On Wednesday, the Federal Reserve lowered its benchmark interest rate by half a percentage point. The action will take the rate to between 4.75% and 5% immediately. The Fed also announced more cuts are likely before the end of the year. The combination suggests the
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JPM
Earnings
- 7/12/24 - Beat
JPM
Sec Filings
- 9/19/24 - Form 424B2
- 9/19/24 - Form 424B2
- 9/19/24 - Form 424B2
- JPM's page on the SEC website